GBP/USD is showing a variety of trends

17 December, 2018

  • Prev Open: 1.26325
  • Open: 1.25996
  • % chg. over the last day: -0.58
  • Day's range: 1.25166 – 1.25996
  • 52 wk range: 1.2477 – 1.4378

GBP/USD is showing a variety of trends. The technical picture is ambiguous. The GBP/USD quotes are consolidating. The key support and resistance levels are 1.25700 and 1.26150. Investors wait for the relevant data regarding the Brexit process. Last week Theresa May failed to negotiate better conditions regarding the UK leaving the EU. You should look for market entry points at the key levels.

The Economic News Feed for 17.12.2018 is calm.

The price fixed below 50 MA and 200 MA which indicates the power of the buyers.

MACD histogram is in the negative zone but above the signal line which provides a weak signal towards selling the GBP/USD.

The Stochastic Oscillator is in the neutral zone, the %K line crosses the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.25700, 1.25300, 1.24850
  • Resistance levels: 1.26150, 1.26800

If the price fixes below the local support 1.25700, expect further fall of the GBP/USD quotes. The movement will tend toward 1.25300-1.25000.

Alternatively, the quotes can grow toward 1.26500.

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